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2019: The Year of the Growth-Driving Marketer

 

In 2019, corporate banking marketers face a great challenge. That is, the transformation to a revenue science practitioner and customer experience architect. How will be you defined?

 

An analytical, data driven growth strategist, with an expertise in marketing, a passion for the digital creation space, and a soft spot for the arts.

In Chinese philosophy, yin and yang describes how opposite or contrary forces are actually complementary, interconnected, and interdependent in the natural world, and how they give rise to each other as they interrelate to one another.
Could Marketing be the pivotal force to growth?

A 2018 study from the Chief Marketing Officer (CMO) Council and Deloitte, surveying close to 200 chief marketers worldwide, revealed that many CMOs are still focused on the traditional storytelling aspect of their position and are less comfortable with aspects associated with driving growth, including acting as revenue science practitioners and customer experience architects. Only 20 percent of respondents view themselves as a market explorer that identifies and maps new routes to revenue. Troubling, but not surprising, is that just 7 percent say they are the data guru that understands the voice and expectations of the customer.

 

Maybe this is part of the reason why: Forbes Insights found that only three in 10 marketing executives think analytics is delivering a significant shift in customer experience capabilities today; but 42 percent anticipate a shift up in the next few years as analytics efforts mature. There are some serious benefits, however, associated with a data-driven CX including: faster decision-making, better insight into customers with a common view, more confidence in decisions by managers and employees, greater engagement with customers, greater collaboration between departments, and improved reaction time to market changes.

 

These benefits are noteworthy because they highlight a very real cultural effect from the use of analytics; that is, success begets success. Customer analytics actually works to break down the very organization silos that impede a seamless and positive end-to-end experience. Better decisions, delivered faster and with more confidence is the analytical nirvana, isn’t it, asked Lisa Loftis, Best Practices Consultant at SAS.

CFG Goes on the Road

In 2019, CFG takes you on the journey of a ‘growth’ marketer. We’ll visit three companies who are helping banks and marketers shape their future: SAS Institute, IBM Watson and Marketo/Adobe. You’ll have the opportunity to examine how you and your team match up to the skills required to be a growth marketer:

 

Data and intelligence analytics

Market insights and knowledge

Holistic view of the customer experience

Brand building

Storytelling in a digital world

First Stop

SAS Institute, Cary, NC

Real-Time Decisioning. Data Management. Insights. Predictive Analytics.

This is what business leaders say they want to enhance their customers’ experiences with their companies, according to a SAS-commissioned study by Harvard Business Review Analytic Services.
 
MARKETING HINGES ON DATA
 
Underlying each of these capabilities is DATA. For marketers, data is the backbone of everything we do. Customer data defines our key target markets and where to engage them. Intelligence data crafts messages, offers, and content across digital channels. Measurement data directs our marketing campaigns. Behavioral data narrows likely purchase options. Performance data help us to constantly adjust.
 
The big question for marketers is: how familiar are you with the data delineating customer experiences? If you’re a data scientist in marketing, or a marketer working closely with your analytics teams, or even a marketer managing marketing automation technology, then yes, you are. You’re defining the needs and building the systems that will manage your data, create insights, predict customers’ next moves, and apply real-time decisioning. If you’re a strategic marketer, you rely on these technicians for the data and insights you need to craft your marketing strategies.
 
As the digitization of banking evolves, we don’t really know how it will affect corporate/commercial banking marketing. What we do know is what we’re already seeing in the transformation to a more scientific marketing operation. Marketing’s left brain is highly engaged and focused on data-driven recommendations to attract new customers and build deeper relationships with existing customers. We like to think of it as smart marketing.
 
In March of 2019, CFG stepped into this scientific world of marketing when it visited SAS Institute in Cary, NC. SAS is a trusted analytics powerhouse for organizations seeking immediate value from their data. SAS transforms a world of data into a world of intelligence through its many tools and platforms.

 

We saw first-hand how data analytics is driving the real-time decisioning, data management, insight creation, and predictive analytics that business leaders are demanding. We experienced its Customer Intelligence (CI) 360, a tool that provides a 360 view of the customer though which you can create personalized customer experiences. We saw SAS’ Visual Analytics tool which identifies variables and relationships in your data using automated analysis backing by machine learning and natural language explanations. We learned about the SAS platform. We talked about data privacy, And, we learned how AI and machine learning are different yet closely related.
 
In this edition of Marketing | Insight, you’ll read highlights from our conversations with SAS experts. Know that the slide decks are available online at
https://cfgglobal.com in our Resource Library. Also, all SAS experts are accessible. Please contact Pat at CFG for referral.

Click here to read about what your future holds

Copyright © 2019 Corporate Financial Group, Inc., All rights reserved.

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Corporate Financial Group, Inc. · 13537 US Highway 1 · Suite 122 · Sebastian, FL 32958 


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Corporate Financial Group, Inc. · 13537 US Highway 1 · Suite 122 · Sebastian, FL 32958 · USA

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